When searching for the best insurance coverage to meet your specific needs, it all depends on the type of insurance that you are shopping for to see where comparisons will differ. What I mean is that when shopping for a Major Medical Plan in Texas through companies like Blue Cross Blue Shield, Humama, or United Healthcare, there is more to look at than just price. These companies will offer an array of deductibles, plans with or without co-pays, even different co-insurance options. So, doing your homework can payoff when finding the right coverage for your needs, but when it comes to other types of insurance you may only have to look at price and company stability to find the best coverage available with the best rates.
A good example would be Term Life insurance coverage. If you know how long you want the term to be and what face amount you, than there is really no difference in coverage from one insurance company to another. What you will find is different monthly rates, different financial ratings of insurance companies, and maybe some type of benefit rider that you can added to your policy that other companies do not offer. Point is, a $100,000 20yr Term, is life insurance coverage that will cover you for 20 years in the amount of $100,000.
The same is true about Medicare supplement insurance plans in Texas. All Plans are standardized, and you can choose from Plans A – N. What this means is that if you choose a Medicare supplement Plan F as your coverage, you are not going to find any difference in basic benefits from one insurance company to another. So, like the example of the Term Life coverage, you are back to looking at the Medicare supplements rates or premiums from different insurance companies, and I strongly suggest looking at the financial stability as well.
Even though it sounds like taking the lower premium for a Texas Medigap insurance coverage is the way to go, you will also want to keep in mind a few more factors that can come in to play the longer you have your coverage:
How does that company rate their premiums? Do they use attained age, issue age, or a community rating?
Making sure you know if the plan being quoted is a standard Medicare supplement insurance plan or have you been quoted a Select plan price.
Knowing if there are or how many complaints against the insurance company.
All of this information can be overwhelming to obtain, this is why we are here to help. Feel free to contact an agent today to have any questions or concerns you may have answered, as well as a free Medicare insurance review in which we will provide side-by-side Texas Medicare supplement quotes from top rated insurance companies throughout the state.